Lombard Odier launches Islamic banking services

DUBAI, June 7, 2018

Bank Lombard Odier & Company, a leading global wealth and asset manager based in Geneva, Switzerland, has announced the launch of its full suite of Shariah-compliant investment solutions - the first in its 222-year history, in the Middle East region.

As an independently owned, family bank with a long-standing legacy, the new offering follows a tradition of social responsibility including a focus on developing sustainable and responsible investment solutions, said a statement from the company.

With the goal of preserving the assets and values of clients at its core, the Shariah offering builds upon Lombard Odier’s legacy of 50 years in the Middle East, said a top official.

"While Lombard Odier has been proud to offer a range of solutions in line with Shariah principles, including Shariah-compliant investments since 2012, this is the first time we are offering a unique Shariah-compliant discretionary mandate," remarked Arnaud Leclercq, the limited partner at Lombard Odier Group.

"The decision to offer fully customisable Islamic investment solutions globally is a testament to both our commitment to our clients and our commitment to growth within the Gulf Cooperation Council (GCC)," he noted.

Christophe Lalandre, the managing director at Lombard Odier’s Representative Office in Dubai, said: "Given Lombard Odier’s history in the region, the Shariah-compliant offerings display our commitment to growth in the UAE, which is among the strongest markets for Islamic finance."

"As Islamic finance continues to gain momentum exponentially, the link between Shariah-compliant investments and the promotion of social responsibility becomes increasingly clear. We find this to be the case especially in the UAE, where the strong emphasis on philanthropy, innovation and sustainability leading up to Vision 2021 fosters the growth of Islamic finance," he added.-TradeArabia News Service